I think we absolutely need to implement Revenue Sharing if Steemit,Inc implements Ads on Steemit.comsteemCreated with Sketch.

in steemit •  6 months ago 

I think steemit.com and steem has an amazing opportunity where they failed previously.

Steemit,Inc recently put out a blog post talking about how they are FINALLY testing ads on steemit.com.

I say finally because just about every other website on the planet uses ads to monetize content, and there is a very good reason for that.

It is currently one of the best ways to do so!

Part of the reason major influencers haven't flocked to steemit.com is because there is no guarantee of any revenue at all based on their work.

However, if we were to set up revenue sharing from advertising, that would provide influencers with a guaranteed revenue source based on how many views their work gets.

Then, if any stake holders decide to upvote their content, it would be similar to a bonus, like a tip.

Why do I think this is necessary?

For a whole host of reasons really!

The biggest being that it would likely attract influencers, who in turn would attract their large audiences.

A larger audience means increased website traffic which in turn would equate to increased revenue from advertisers for steemit,inc as well as bloggers.

As the earning potential goes up for influencers, it will attract more and more of them who will bring over their followers...

Do you see where I am going here?

It likely will compound on itself, like a snowball, gaining momentum as it goes.

This increase in users will very likely lead to increase in steem users and purchases, which will equate to a higher steem price as well, which will also help boost revenue for bloggers, again likely causing more and more people to come on board.

There is a non zero probability that steemit.inc would end up making MORE money overall if they shared some of the revenue with bloggers than if they kept all of it.

The reason for this is mostly explained above.

In laymen's terms, owning 100% of something small is not nearly as lucrative as owning 50% of something very large!

Also, if steemit,inc now has significant revenue coming in they will stop selling so much steem on the open markets, which will stop a big portion of the downward pressure on steem prices.

If demand stays constant or increases (likely) prices will start to appreciate.

There are a whole host of other reasons why it would be a good idea for steemit.com to implement ads and then for them to implement revenue sharing, but this is all I will get into for now.

Lets try to make this a reality!

If you share these views, make sure you voice your opinions as often and as loudly as possible to the steemit,inc team in order to let them know how badly we think this is needed.

Stay informed my friends.

Follow me: @jrcornel

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Haha, yep agreed. The more revenue streams that can be created for users on here the more popular the site becomes.

Great idea!

Thanks, hopefully it gets listened to.

I agree. Look at how Hubpages.com has developed in over 10 years.
I wrote there - many moons ago.
People understand the concept: get paid from a share of ad revenue.

Now, if a platform set up a mixed-rewards economy, then some users would do best from ad-revenue-rewards whereas others may do best from post-upvotes-rewards.

:-D

Be sure to check out @dclick :)

Yep, that is one option as well.

Totally agree, revenue sharing and also implementing their own ad network is important in the long run 🚀

Yep, though I'd like to see it as soon as possible.

Longer term I would agree but I would prefer that the continue to test and figure it out during the year. I also think that it should be more dynamic than just a revenue share. I think they should have sections of ads where users could explore and get rewarded. It would be similar to what BAT has been developing. Either way, exciting to see progress from Steemit Inc!

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Yep, what I am suggesting is just a very basic idea. Any kind of revenue share would be welcome, even if there is some gamification out of it.

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I agree!

If cheetah tags us for making money from the content of others what gives stinc, et al, the idea that this is ok?

Good point.

I disagree with this. The revenue sharing is there already from the fact that people using the platform own and/or earn STEEM. The goal is for the value of the STEEM token to increase compared to USD, which will be the best way to increase rewards to all content producers on the platform.

I think that Steemit Inc using the ad revenue to be able to improve the blockchain, implement new features, do marketing, and even maybe update steemit.com will go much farther in terms of increasing the value of the STEEM token than splitting up what amounts to a relatively small amount of money among content publishers.

Well, we have had that model for close to 3 years now and have failed in attracting and keeping any major content creators, and this is during a time when some of the more popular ones have been outright looking for a new home due to censorship issues with youtube etc.

I agree with you that would be the ideal model, but history is showing us that model isn't working.

Regarding the modest ad revenue. I can't really say for sure what that revenue might look like, but when I plugged some simple numbers in for general advertising revenue based on our user metrics, generating a couple million per year should be pretty simple... then if there is some more targeted advertising, those revenue numbers go up. Increase our user numbers and those revenue numbers also go up.

Regarding steemit.inc needing to keep all the revenue, remember, getting 50% of something large is better than getting 100% of something small. :)

The goal is for the value of the STEEM token to increase compared to USD

Didn't you mean compared to BTC?

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I think since we still can't spend steem or bitcoin on many things, increasing the USD value is still the goal.

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I have a feeling they won't do it.

You are probably right. Though if we keep pushing for it, maybe we can help make it happen.